The Bank of Japan on Wednesday installed a new governor and two deputy governors who — in line with the wishes of Prime Minister Shinzo Abe — are advocates of ultra-easy monetary policy.
Attention is now focused on what specific policy actions the new central bank team will take. But while benefits, including a weaker yen and rising share prices, have materialized in anticipation of further easing, drawbacks are also starting to emerge — most notably in the form of rising prices.
In a sign that a mini bubble may be at hand, condominiums in suburban Tokyo are being marketed for nearly ¥100 million per unit.